Retail sales jumped 24% in mainland China in the three
months ending June 30, with same-store sales — at branches open for at least a
year — rising 11%, the jeweler reported Tuesday. Retail revenues in Hong Kong
and Macau fell 6%, while same-store sales slipped 11%. Same-store sales only
include shops that Chow Tai Fook operates itself, as opposed to franchises.

“[The] Hong Kong and Macau market was affected by a tough
base comparison and cautious consumer sentiment amid an uncertain [economic]
environment,” the company said.

Gem-set jewelry sales climbed 8% on a same-store basis in
China, but declined 16% in Hong Kong and Macau. Revenue from gold jewelry
surged 12% in China, as the average weight per product sold increased, as did
the average selling price. Sales of gold jewelry dropped 13% in Hong Kong and
Macau. The group did not provide exact sales figures.